🔥 Kannapolis, NC. 3 bed / 1 bath. 1,900 sq ft — larger than every single comp on the board. As-is neighbors selling at $170K–$245K, renovated up to $320K. Priced at $147K. That’s $77/sq ft in a market where comps average $173/sq ft. 🤝
Asking: $147,000 | Comp Average: ~$245,000 | Spread: ~$98,000
| Type | Single Family Residence |
| Bedrooms / Baths | 3 bed / 1 bath |
| Living Area | 1,900 sq ft |
| Year Built | 1957 |
| Lot Size | 0.17 acres |
| Utilities | City Water & City Sewer + Duke Energy |
| Occupancy at Closing | ⚠️ Seller requires 15 days post-closing to vacate. 50% of Seller’s proceeds held in escrow until Buyer confirms vacancy. |
| Closing Date | June 22, 2026 |
| Closing Attorney | Atlas Orange |
Condition Notes
⚠️ Roof is 20+ years old and will likely need replacement — factor this into your rehab budget.
⚠️ HVAC (heating and cooling) is also 20+ years old but reported as still operational — budget for near-term replacement. No additional condition details were provided.
Comparable Sales
| Address | Sq Ft | Sale Price | Price/Sq Ft | Notes |
|---|---|---|---|---|
| 1305 Price Ave | 1,528 | $320,000 | $209/sq ft | Sold Jun 2025 — Renovated, updated kitchen, new baths |
| 803 N Walnut St | 1,370 | $245,000 | $179/sq ft | Sold May 2025 — As-is |
| 623 N Main St | 1,469 | $245,000 | $167/sq ft | Sold May 2025 — Listed as as-is; Zillow shows updates (granite, hardwoods, new HVAC 2025) |
| 624 N Juniper Ave | 1,261 | $170,000 | $135/sq ft | Sold Jan 2026 — As-is, same street |
| Comp Average | ~1,407 | ~$245,000 | ~$173/sq ft | |
| 🏷️ Our Price | 1,900 | $147,000 | $77/sq ft | |
| 💸 Your Spread | ~$98,000 |
Note: 623 N Main St was provided as an as-is comp but Zillow’s listing shows significant updates including new HVAC 2025, granite countertops, and hardwood floors — treat as a renovated comp when evaluating true as-is ARV. Pure as-is comps (803 N Walnut + 624 N Juniper) average ~$207,500.
💡 Why the numbers work: Your subject property at 1,900 sq ft is the largest home in this comp set — bigger than the renovated $320K comp, bigger than both as-is $245K comps, and nearly 640 sq ft larger than the same-street as-is sale at $170K. Yet at $147K ask you’re coming in at just $77/sq ft — against a comp range of $135–$209/sq ft. Even penciling to the conservative as-is average of ~$207K, you’re looking at $60K+ of margin before picking up a hammer. Renovate to the market and you’re staring at a $170K+ spread.
⚠️ DISCLAIMER — Please Read Before Submitting an Offer
📋 Assignment of Contract
This is an assignment of contract. A legally binding purchase agreement with a memorandum has been executed with the Seller, granting this company exclusive rights to purchase the property. We are not brokers or realtors and do not represent the owner.
🚫 Do not contact the Seller directly. Any attempt to contact, interfere with, or circumvent our active contract will result in legal action. This property is not to be re-marketed without our explicit written consent and execution of a joint venture agreement.
🔍 Due Diligence
Buyers are responsible for their own due diligence. We are not licensed agents. Please consult appropriate legal or professional counsel before submitting an offer.
💰 Offer & Deposit Terms
- $5,000 non-refundable deposit due within 24 hours of signing
- Closing no longer than 30 calendar days
- Buyer pays all closing costs — not included in asking price
- Taxes prorated and split between parties
- Closing through our closing attorney
🏚️ As-Is Terms
Property is offered as-is, where-is, no warranties. By submitting an offer you accept these terms.
- ❌ No repairs or improvements prior to closing
- ❌ No clean-out or clean-up of any kind
- ❌ Property will not be broom clean at closing
🤝 Realtors & Wholesalers
The wholesale price does not include your commission or fee. You may either negotiate your fee directly with your client or adjust the wholesale price upward to account for it. If you’d like to be compensated by us, include those terms in your offer or reach out before submitting.